Chattogram Port Achieves Record Cargo Handling in 2023-24 Fiscal Year

The Chattogram Port Authority (CPA) has reported a record cargo handling volume for the fiscal year 2023-24, processing 2.5 million twenty-foot equivalent units (TEUs)—a 15% increase from the previous year. The port, which handles over 90% of Bangladesh's seaborne trade, has become a critical engine for the nation's economic growth, driven by surging exports of ready-made garments, pharmaceuticals, and agricultural products, alongside higher imports of raw materials and machinery.

CPA Chairman Md. Shafiqul Islam attributed the growth to strategic infrastructure investments. "The completion of the South Container Terminal expansion and the introduction of automated cranes have significantly improved vessel turnaround times, reducing average waiting periods by 20%," he said. The port also processed over 1,200 vessel calls in the past year, a 10% rise from 2022-23, with new shipping routes established to Europe, the Middle East, and Southeast Asia.

Trade with India has grown by 18% year-on-year, while exports to the European Union increased by 12%, according to CPA data. The port has also emerged as a key transit hub for landlocked Nepal and Bhutan, with cargo volumes from these countries rising by 25%. Local businesses have welcomed the improvements. "Faster clearance processes and reduced congestion have allowed us to meet international deadlines more reliably," said a representative from a major garment exporter in Dhaka.

However, environmental concerns have been raised by local groups. Critics point to increased coastal erosion and marine pollution linked to port expansion activities. In response, the CPA has introduced stricter waste management protocols and is investing in solar-powered equipment to reduce carbon emissions.

Economists view the port's performance as vital to Bangladesh's "Vision 2041" goals. Dr. Ayesha Khan, a development economist at the University of Dhaka, stated, "Sustained infrastructure investment is essential for maintaining competitiveness in global supply chains. The port's growth reflects Bangladesh's integration into international trade networks, but environmental sustainability must accompany this expansion."

The government is advancing the Matarbari Deep Sea Port project, expected to commence operations in 2025. Once operational, the new facility will handle larger vessels and alleviate congestion at Chattogram. Additionally, discussions with Japan and South Korea are ongoing to secure funding for further modernization, including digital customs systems that have already cut clearance times by 30%.

According to CPA statistics, the port's efficiency improvements have contributed to a 12% reduction in overall logistics costs for exporters, enhancing Bangladesh's competitiveness in global markets. Additionally, the introduction of blockchain-based tracking systems has improved cargo security and transparency, reducing instances of theft and delays.

The port's performance has also had a ripple effect on regional employment. Over 15,000 jobs have been created directly and indirectly in the surrounding areas, including in logistics, transportation, and related services. This growth has spurred the development of new industrial zones near the port, attracting both domestic and foreign investment.